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Question
Article SummaryRoberto Azevedo, director-general of the World Trade Organization (WTO), reported that global trade growth estimates will be lowered for 2013 and 2014 because of increasing global protectionism. The current protectionism is based primarily in regulations rather than the more common tariffs and subsidies. Since 2008, almost 700 new trade restrictions have materialized - over 150 of those in 2012 alone - with Russia being singled out as one of the primary offenders.
Source: Kiran Moodley, "WTO warns of trade slowdown due to protectionism," CNBC, September 6, 2013.
Refer to the Article Summary. The protectionism being granted to Russian firms will cause the greatest harm to
A) Russian manufacturers.
B) the Russian government.
C) manufacturers who export to Russia.
D) Russian consumers.
Answer
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Related questions
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Suppose two countries use different combinations of inputs, such as labor and capital, to produce the same product. This implies all of the following except that
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B) the relative input prices.
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B) is equivalent to minimizing cost for a given level of output.
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Which of the following would be categorized as an opportunity cost?
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b. the cost of purchasing supplies for your house-cleaning business
c. the cost of purchasing auto insurance for your dry-cleaning delivery business
A) a only
B) a and c only
C) b and c only
D) all of the above